 Good evening folks, a pleasure and honor to be a part of the Intreprenia 2020 Awards and the conference. I guess this is your first virtual conference and a pleasure to be invited to be a part of this. The world changed in the last four months. Four months ago, it was a very different world where our aspirations, what we did, how we did was very, very different. Whoever thought it would come to what it has and whoever thought we'd all be meeting virtually for these awards. I had the pleasure of witnessing at least part of the awards and congratulations to all the great entrepreneurs who got the award and the great entrepreneurs who competed for those awards. We'll talk a little about the power of startups. The way this technology works, when I put on my presentation, I guess you'll only see my picture. Some of you will be thankful for not having to see me live. And you will see a presentation which I'm thankful that you'll see it because I spend a fair bit of time pulling together a few sheets to share with you my thoughts on the power of... So with that, let me see if I can... Okay, when it comes up is when I'm told you will be able to see it, okay? Folks, so the power of startups, just some thoughts. What I've learned not necessarily just in the last four months, but in a few years before being closely associated with the startup ecosystem, with the entrepreneurial ecosystem, with the IT world, some of the first startups came from the IT world and we'll talk about it. But who is the Indian startup ecosystem globally? These are the real engines for growth, for creating employment. Actually, if you go by statistics, the startup ecosystem creates about 7 to 8x the jobs that the listed companies create. And yeah, some of the startups grow up to be listed companies. But if you look at the aggregation of the startups and maybe some startups hire only 5 people or 8 people or 10 people, but they have a very large number and some grow up and hire 10 people a day. I can tell you one of the startups I ran, a company by the name of SpectraMind which was acquired by Vipro. On a good day, we were hiring 100 people in a day, 100 people in a day. Yeah, we were losing 30, 40 in attrition also. So the net add was 60, 70, but we were hiring 100 people in a day. I had a sign on the door of that company, the gate of that company that said trespassers will be recruited. So when the guy came to give the pizza, we said pizza is okay, do you want a job? Because we were so hungry for the people. Startups create jobs, start up create new age jobs, start up create the capability of people to experiment with new age technology and the jobs and create a foundation for what can become into the future. Today, we are all fortunate to be a part of the third largest startup ecosystem, which has grown to about 50,000 startups starting with 7,000 in 2008. That time I was much younger. Incredibly, the research from the Global Entrepreneurship Monitor report of 2019 shows that the median age of the founders was only 31 years. 1300 new tech startups were added just in the last year of which nine entered the billion dollar unicorn club. And that is the fascinating part of where the value creation can happen, where the jobs can happen. And that is the power of what the startups can be. And we'll talk a little more about that. As of today, and we'll talk a little about COVID and the impact of COVID, the consumer services sector has been the most explosive, both in terms of job creation, in terms of value creation, in terms of fulfilling a need, what we do for business to consumer services, whether it be the internet companies or whether it be the intermediaries that do the supplies or food, etc. All of them have become a part of our life. FinTechs and logistics is the next hottest sector after consumer services and all of that has added a lot of value. Let us understand before we get into the startups as to what is an entrepreneur. Who is the entrepreneur and to understand that to say I have the luxury and opportunity to talk to the entrepreneur 2020 forum, I decided to go to the dictionary and figure out what does a dictionary say what is an entrepreneur. And this what you see on the screen is what I got from the dictionary. If I take out the crux of that, these are three line definition of an entrepreneur. And if I look at the words that are keywords in that it is somebody who organizes, takes a risk, is a risk taker, has skills, has the initiative, organizes a business venture and yet again assumes the risk for it. So organization capability, risk, risk figures three times in the definition, having some skills and some initiative and the ability to organize, that is what the entrepreneur is. And then what is the concept of entrepreneurship? Is it a very unique set of people that are entrepreneurs, a person who has an aptitude to pioneer change, to have characteristics that are coming up with new things. Is that the only entrepreneur or anyone who wants to work for himself or herself. And my favorite example is the Ula driver or the Uber driver who left a job as a driver, decided to take a bank loan, set up a cab of his own and became an entrepreneur. Is that the entrepreneurship? And I'd like to believe that really the entrepreneur is actually somewhere in between. Yes it is a job and yes it is pioneering but it is that amalgamation and it is that amalgamation that brings the power of startups. To me, the entrepreneur, this is a definition that I have framed on the wall of my office and it is something I read very frequently to remind myself on what the entrepreneur is all about and what entrepreneurship is all about. Entrepreneurship is the recognition and pursuit of opportunity without regard to resources you currently control with confidence that you can succeed with the flexibility to change courses necessary and with the will to rebound from setbacks. I think this is the most encompassing definition. It brings in setbacks, it brings in the ability to rebound, it brings in the confidence, it brings in lack of resources. It brings in a pursuit of an opportunity and that is what is amalgamated. It is this amalgamation I believe that is the power of what the startup brings. That is where it is different from just doing a job of creating a startup, of creating that opportunity for employment. So Mark Twain said there are lies and there are damn lies and then there are statistics and I am frequently reminded yes you're giving a lot of things let's talk stats and let's talk numbers to see where we are and as we see that the startups form the base of India's innovation system. In the years 14 to 19 between 8,900 to 9,300 startups came into being a growth of well to 15%. The numbers from some charts differ because the sources and I put the sources at the bottom of each chart where I took the data, this data is from NASCom. The growth rate in India and 43% are B2B business to business startup that 27 unicorns that are active in India. 1300 plus added combined valuation between 2014 and 19 a mere five years is between 56 to 62 billion. 18% are deep tech which means 82% are not. There are 390 plus institutional investors sitting in the marketplace. A number that was 310 in 2018 and when I started my entrepreneurial journey seems like a long time ago about 23, 24 years ago. The number of institutional investors that were domestic could be counted on the fingers of one hand. Now we have 330 plus incubators and we've directly created 60,000 and indirectly created 1.8 lakh jobs. A couple of slides on the IT world that is what started really in true sense the entrepreneurial revolution in this country. Today we all treat Infosys and Wipro and Cognizcent and TCS as large companies. If anyone of you is as old as me or maybe if you ask your dad or your mom these companies which are huge companies today were mere startups 25, 30 years ago. The year 2009 and 19 which was the mid stage of these startups added 105 billion dollars in revenue created 2 million direct jobs. The indirect jobs of that was 8 to 10 million as estimated by McKinsey that is the power of startups. At that time if you go back 40 years ago IT was not understood today or in the years gone by of the last 30 years when a kid finishes school the mother says beta go and study IT because it will ensure you get a job. And on the right side I'm trying to bring out there are these 10,000 companies more importantly there are 500 million plus new internet users and 50 billion in e-commerce revenue. That is what brings out the power of what just a few years ago within our lifetime was a startup. 2019 was challenging even for the tech industry and I will not take you through the figures on the top that you can read. But what I want to focus on is the bottom part of this slide of the new tech that is changing business. These are words that we had not heard before artificial intelligence 3d printing blockchain big data analytics cyber security IOT robotics immersive media cloud computing something that is new and something that we are all proud of that will create the next generation of this country. The tech industry we talk a lot of the 11 large companies but what is important is the 16,500 small startups that form the crux of this industry where a whole lot of innovation is happening. If you look at the chart on the right you will see things that did not exist in 2009 that got added cloud IOT AI ML blockchain cyber security they are now a part of our world of today. The industry grew to $191 billion at one point of time 35 years ago we were doubtful whether we will even grow to $1 billion. Now our growth itself was $4 billion for last year the key highlights of the year gone by we contributed 8% to the national GDP we were zero 30 years ago. That is the power of startups the hiring we have a workforce direct workforce of 4.36 million 9000 odd startups in various startup hubs with 27 unicorns I can go on and on about the data and take you somewhere. But what is important is what I'm trying to bring out on this chart that the entrepreneurial ecosystem has come of age. There are now incubators which are in thousands of numbers that are allowing entrepreneurs to come in and get a little bit of money a little bit of support a little bit of help to help create companies so that these. Siplings can become the giant oak trees like the IT industry joints that have become. There are accelerators a lot of companies are setting up accelerators to support these entrepreneurs to teach them their technology their capability. Many entrepreneurial focused platforms are there I I talk of the things I'm associated with I sit on the board of Tidelli and CR. And I'm a past chairman of NASCAR we play an active role in making the startup ecosystem handle. I'm a co-founder of the Indian Angel Network which is the largest angel group globally where we have 450 members we have more than 140 investments in 17 sectors but more importantly we see 6000 new deals per year. About 1 to 2% of those deals get invested depending on the quality and where they are. There are VC and PCE firms that invested about 20 billion last year corporate houses are venturing into the world Indian family officers have come into being and the government is now participating on fund of funds. SIDB runs the 10,000 crore fund that our prime minister announced. I'm fortunate to sit on the investment committee of that and it is fascinating to see how many funds are coming in together to be able to create that capability to be able to participate in the startup ecosystem. Here on new world nothing can be complete without COVID it has fundamentally shaken up the economy. It has shaken up the startup ecosystem 92% of the startups are facing a decline in revenue 62% of greater than 40% regrettably some companies will not survive. In the last 4 months I've spoken to 100 plus companies and I just tell them one mantra. Cash is king, conserve cash so that you have a larger runway because you don't know when you will be able to get the next round of funding and when your business will pick up so that the revenue can start coming in. There are businesses that are gaining traction in this post COVID era, biotech. It's a big word. We are all using things that are linked to medicine. The education is playing a big role. Our schools and colleges have not opened but educating oneself at home and leveraging technology is playing a big role. You and I are still getting our food and eating food and getting groceries at home. There are companies that are supporting that that are doing good and cooked food or what Zomato and Swiggy whoever thought they will become a standard way in which we live. This is the chart I took out from a NASCAR presentation to bring out the three pillars of the India stake industry. In looking at the power of startups, I want you to look at the extreme right side to say there are 6500 patent filed by Indian companies, 9000 startups which include 1600 deep tech, 335 incubators, 1250 global competency centers. These are larger companies setting up competency centers and 900 all engineering research and development centers. Mukesh Ambani a few years ago said data is the new oil. Today, Geo has proven it, bytes valuation and what is there. Again, I will not take you through the details but truckloads, zeta bytes. I didn't even know there was a term called zeta bytes of data are being created and mined and analyzed and startups working in that creates a big opportunity to help us understand what it is that we do where it can happen. Just two charts to tell you that beyond what we do as a startup there is an opportunity to work with countries and I took a German and French company example. This is a chart that was written up when I presented to the companies in Europe to say that they have excellent manufacturing capabilities but their vision is to digitize that capability and that is where India can play a big role in the digitization. Whether it be an automotive aviation, energy construction, logistics or financial services and some of you will set up those startups and those companies that will make it happen. Manufacturing can be clubbed with software. The world of tomorrow will be of internet of things and that is a combination of software. Engineering, research and development will play a huge role on where we want to take it. The global competency centers this is a picture though industry was born at least the BPO industry you see the American Express sign there and the G sign there. Those are the first two to set up the back office operations what we lovingly called BPO that time I had the good fortune of leading it and today that industry employs one and a half million people and generates 45 billion of revenue. E-commerce as I spoke earlier is playing a big role and all of this is happening and creating an opportunity because we are the single largest source of digital talent for the world. If you create a digital capability, India is the right place to be able to create a business model and take it to the next level. We are also a very diverse industry. The number of women employed in this industry is the highest as a percentage of the workforce. It is almost 46, 47% of that and that creates the opportunity to charge for you to say that you have the ability to follow your dreams and succeed. Provided you are willing to innovate and take the challenge. In the post COVID world, I need just once the one minute more. In the post COVID world, what you see is like this iceberg. I work very hard to find this picture for you. What is hidden is where the opportunity is and we need to conceptualize and take it to the next level. Happy to answer any questions.